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Insurance

I have done a BHPH deal for a "good" friend of mine in 2014. He ran away with the vehicle and took off the GPS device I had inside and haven't been able to find the car since. Recently their insurance company contacted me and wanted to payoff the car because it has been deemed a total loss as of last week. Now the vehicle's ACV is a lot lower than what the current loan for the vehicle is.

My question is how can I hold the owner liable for the rest of the debt on the loan?